The Office Space may be used solely and exclusively for administrative and/or showroom activities,with the exception of any activity as a result of which the Agreement would fall within the scopeof the Law of April 30, 1951. The car parking spaces may be used solely and exclusively for theparking of the cars of Skechers and its contacts.All other activities and/or adjustments in the Premises may only take place subject to priorwritten permission by ProLogis, which will not withhold its permission without any justifiedreasons.ProLogis undertakes to furnish the Premises in such a manner and Skechers undertakes to use thePremises in such a manner that each payment under the current Agreement will at any time be subjectto VAT (Belgian VAT) within the meaning of Article 44, §3 2o (a), second point, of the VAT Code.In the event that, due to a use of the Premises during the term of this Agreement which is not inconformity with the terms of this Agreement, the payments under the current Agreement are no longersubject to VAT, either in part or in their entirety, Skechers will compensate ProLogis for any losssuffered by the latter as a result, including the loss which ProLogis may suffer by being unable torecoup the VAT already paid by it.Skechers is not authorized to alter this use without prior written permission by ProLogis, whichwill not withhold its permission without any justified reasons.It is explicitly agreed that any use of the Premises or the Site for any work or activity coveredby the legislation regarding commercial leases (The Law dated April 30, 1951 as amended) isstrictly prohibited.Skechers may not use the Premises as residential accommodation nor may it keep any living animalsthere.Skechers may not carry out any activities in the Premises, nor install any objects or equipmentwhich would subject the floor to excessive loads or exert an extreme pressure on the structure ofthe Premises.Within this context, it must be stated that the maximum floor load permitted in the Warehouse is5,000 kg per m 2 of the floor area, on the Mezzanine floor in the Warehouse 400 kg per m2 of the floor area and in the Office Space 400 kg per m 2 of the floor area.Skechers is not entitled, for whatever reason, to conduct public sales in the Premises.Skechers is obliged to obtain all required permits from the competent authorities at its own costand risk enabling a proper operation in the Premises.**3 Price and Deposit**The Agreement for the availability of the Premises is entered into on the basis of an annual price(price level July 1, 2007) of nine hundred ninety-one thousand nine hundred and seventy-one Euroand fifty-five Eurocent, i.e. €991,971.55, (+VAT : two hundred and eight thousand three hundred andfourteen Euro and three Eurocent i.e. € 208,314,03, hereinafter referred to as the ‘Price’, payableper quarter and in advance in four (4) equal parts of two hundred and forty-seven thousand ninehundred and ninety-two Euro eighty-nine Eurocent, i.e. € 247,992.89, (+VAT : fity-two thousand andseventy-eight Euro fity-one Eurocent i.e. € 52,078.51), to be made by direct bank transfer to thebank account of ProLogis.As stipulated in Article 5, this Agreement is to take effect on April 1, 2009. The firstperiod over which payment is due will therefore be the period from April 1, 2009 up to andincluding June 30, 2009, which is due as from April 1, 2009.In the event that the Premises are completed after April 1, 2009 the provisions relating to thepayment of the Price as stipulated in the preceding paragraph shall be suspended until theeffective date of completion.The Price must be paid in Euro and is payable to ProLogis Belgium III sprl, accountnumber: 720540646989 (ABN Amro Bank in Brussels).If Skechers, either in part or in its entirety, is in default with the payment of theabove-mentioned quarterly payments of the Price on the aforementioned dates when the payments aredue, Skechers must pay ProLogis, by operation of law (“*ipso iure*”) and without notice of default,the interest due over that sum amounting to twelve percent (12%) per annum, whereby any month thathas commenced must be regarded as completed.When the Price in accordance with Article 4 is modified, the amount of the bank guarantee, asreferred to in Article 25, will have to be adjusted in line with the annual adjustment of the Pricepayments every year. This bank guarantee may only be released six (6) months after the terminationof the Agreement, provided that Skechers have been released properly of the obligations resultingfrom this Agreement. Under no circumstance, shall the bank guarantee be used by Skechers to pay thePrice. However, in the event of breach of Agreement on the part ofSkechers, ProLogis may use the aforementioned deposit to compensate for Skechers’ overdue paymentsand any other omissions in the performance of its obligations by Skechers.
 

 
**4 Price Modifications**Unless otherwise provided by law, it is determined that the Price, as stipulated in Article 3, willbe linked to the consumer price index (“health index)” as published each month in the Belgian StateGazette.The basic index is that of the month prior to the signature of this Agreement, *i.e.*the month March2008.The Price will be reviewed annually on the date of the entry into force of this Agreement,automatically and by operation of law, in accordance with the increase of the aforementioned indexaccording to the formula as defined below, whereby the month used for the new index will be themonth prior to the relevant anniversary of the date of the entry into force:     new Price = Price x new index basic index  However, the new Price will at no time be lower than the Price as stipulated above.Skechers will implement the modifications to the Price subject to a one-month notification to thateffect by ProLogis.In the event that the publication of the ‘consumer price index’ (health index) should bediscontinued, the parties will agree to replace this by the new index published by the Belgiangovernment.In the event that no new official index is published, the parties, if they fail to come to anagreement, will submit the problem to a tribunal of three arbitrators. Each party will appoint itsown arbitrator within one month of being requested to do so by the other party and the twoarbitrators will jointly appoint a third arbitrator.If one of the parties fails to duly appoint its arbitrator or if the two arbitrators fail toappoint a third arbitrator, the missing arbitrator will be appointed, at the request of eitherparty, by the Justice of the Peace in whose jurisdiction the Premises are located.It is explicitly agreed that ProLogis shall only waiver the right to increase the Price arisingfrom this article by a written confirmation, signed by ProLogis.**5 Commencement and Duration of the Agreement**Subject to the timely delivery of the building permit for the Premises and the provisions below andall obligations resulting therefrom, the availability of the Premises commences in principle on 1April 2009, to which is referred to as the ‘Commencement Date’, unless parties confirm otherwise inwriting, for a duration of twenty (20) consecutive years and ends by operation of law on March 31,2029 or twenty (20) consecutive years after the Commencement Date (if theavailability of the Premises starts later than 1 April 2009 and insofar as mutually agreed upon inwriting by the Parties).Skechers is only entitled to terminate the Agreement after five (5), ten (10) and fifteen (15)years after the Commencement Date, being April 1, 2009 or the date as agreed upon between partiesin writing as set forth in the preceding paragraph, subject to a notice period of twelve (12)months. without any compensation to ProLogis nor VAT adjustment to be paid, except as set forth inarticle 2 of this Agreement.Notice needs to be given twelve (12) months prior to the fifth, tenth and fifteenth anniversary ofthis Agreement by bailliff’s writ or by registered letter. Notices hereunder shall be deemed givenand effective (i) if delivered by a bailiff, upon delivery, or (ii) if sent by certified orregistered mail, within five (5) days of deposit in the post office.This Agreement will however in any case end by operation of law on the later of the following dates: March 31, 2029 or the twentieth anniversary of the Commencement Date as agreed upon in writing bythe Parties as set forth in this Article . After the latter of these dates , this Agreement can notbe tacitly renewed.
 

 
**6 Building Schedule and Specifications**ProLogis undertakes to complete Warehouse DC II and belonging Customer Fit Out as at April 1, 2009,in accordance with the plans and specifications attached in Appendix 3, insofar thebuilding permit for the Premises is granted ultimately on August 1, 2008.ProLogis may, in consultation with Skechers carry out variations or substitute alternativematerials of a similar colour and to no less a quality or performance criteria within the relevantBelgian Standards (i) so long as it does not materially alter the design, layout and nature of theWarehouse DC II, or (ii) if the changes are to comply with planning or statutory requirements.Skechers will be permitted, after written approval of ProLogis to make minor variations to thespecifications or the fitting out works attached in Appendix 3. ProLogis will provide anestimated cost for the amendments and once agreed, ProLogis will instruct the contractor to proceedwith those amendments.ProLogis and Skechers agree that the minutes of the construction meetings will be given only forthe convenience of attendees present and/or absent. No rights, obligations, amendments or decisionsare to be concluded from these notes.ProLogis also undertakes as far as possible to integrate Customer Fit Out (i.e. racking, cabling,telephone and other systems or equipment) in the construction schedule. The installation of theCustomer Fit Out will be for the account and risk of Skechers. The Warehouse shall be available onemonth before Commencement Date for Customer Fit Out. Best effort will be made by ProLogis to makeit available two months before Commencement Date.The Customer Fit Out should never cause any delay or hindrance of the building activities ofProLogis. During the construction works best efforts will be used to minimise hindrance to theactivity in and the use of DC I by Skechers, it being understood that Skechers will not be entitledto claim damages for any remaining hindrance during the works.With due observance of the aforementioned conditions, the date of completion of the Warehouse,including Customer Fit Out, is expected to be April 1, 2009.The date of completion will be postponed in case (i) the Agreement is not signed ultimately May 20,2008, (ii) the building permit application attached in Appendix 2 can not be filed on April16, 2008, or (iii) the building permit has not been delivered as at August 1, 2008 or is beingsuccessfully suspended and/or challenged afterwards.**7 Transfer of the Availability Agreement and leasing**Skechers may lease the Premises (wholly or partially) and/or transfer its rights (wholly orpartially) subject to prior written permission by ProLogis. Such a permission shall notunreasonably be withheld by ProLogis to Skechers’ request for permission to sublease all or part ofthe Premises insofar the articles of this Agreement are complied with.It shall be reasonable for ProLogis to withhold its consent for a transfer in any of the followinginstances:(i) the identity or business reputation of the candidate will, in the good faith judgment ofProLogis, tend to damage the goodwill or reputation of the Premises;(ii) the creditworthiness of the candidate is unsatisfactory to the fair judgment of ProLogis;(iii) the transfer to another customer of ProLogis on the Site is at a rate, which is below therate charged by ProLogis for comparable space on the Site.(iv) the terms and conditions of the transfer agreement are not the same as the terms andconditions of this Agreement.(v) the term of the transfer agreement will exceed the remaining term of this Agreement. Thetransfer is not subjected to VAT during its’ entire course.Even if transfer is permitted through the above or by way of consent of ProLogis, Skechers is notallowed to market the Premises for a price lower than the Price under this agreement.Any approved transfer shall be expressly subject to the terms and conditions of this Agreement.Skechers shall provide to ProLogis all information concerning the candidate as ProLogis mayrequest.In the event of (sub-)lease, Skechers will at any rate continue to be jointly and severallyresponsible and liable toward ProLogis, together with the lessee, for all obligations resultingfrom this Agreement, and in particular for any additional costs which would result from suchletting.In the event that Skechers transfers its rights as referred to in this Agreement and before thebank guarantee provided by Skechers may be released, the assignee must, in turn, provide ProLogiswith a bank guarantee equivalent to a rent period of six (6) months based on the Price (includingVAT), applicable at that time, increased, in applicable, with an advance of the service charges ofsix months, (including VAT).If ProLogis is of the opinion that the assignee or lessee provides insufficient financialguarantees, ProLogis may make its consent to the transfer of the rights or to the letting bySkechers dependent on the integral maintenance of the bank guarantee provided or to be provided bySkechers together with the bank guarantee of the assignee or lessee equal to six months’ Price atthat time (including VAT, increased with an advance of the Service Charges of six months (includingVAT).
 

 
**8 Charges, Taxes and Compensation**All relevant charges or taxes relating to the Premises, including the advance levy in respect ofreal estate tax, VAT, the occupation or the activity carried out by Skechers in them, whether theyare imposed by the State, the Province, the Municipality, the Federation of Municipalities, theUrban Area or any other authority will solely and exclusively be for the account of Skechers.Skechers will compensate ProLogis for any loss which ProLogis may suffer as a result of any overduepayments of the aforementioned taxes and compensation, provided, in case ProLogis receives thepayment request from the relevant authority, it informs Skechers as soon as reasonably possible ofany such tax or levy being due.Skechers will bear all costs relating to the use of water, gas, electricity, telephone, telex, etc.or relating to any other services and utilities of the Premises.It will also pay any charges by the utility companies for measurement appliances, systems, wiring,pipes, mains, etc.Skechers may not claim any compensation from ProLogis in case of a discontinuance or interruption,irrespective of the duration of such a discontinuance or interruption of the water supply, gas andelectricity, telephone, telex, etc., or of any other services and provisions such as heating,airing, etc. related to the Premises, whatever the reason, unless such a discontinuance orinterruption may be ascribed to failure on the part of ProLogis to take all reasonable measures toensure the continuation of such provisions and services.**9 Services**Skechers will take care of all the services, supplies and site maintenance of the Premisesaccording the specifications provided by ProLogis at Skechers’ own costs, attached to thisAgreement as Appendix 4.Skechers undertakes for the full term of this Agreement, as a bonus pater familias and inaccordance with the requirements of good management, to conclude all agreements which, in Skechers’opinion are required, for the services. Skechers shall inform ProLogis of the conclusion of theseagreements. Skechers shall, with the exclusion of ProLogis, be responsible for the due execution ofsuch agreements. Skechers shall fully indemnify and hold harmless ProLogis for all damages orclaims which could result from agreements for services concluded by Skechers.ProLogis has the right to inspect and review the Premises. If Skechers does not perform theservices properly, ProLogis will notify Skechers in writing to comply within thirty (30) calendardays. If Skechers fails to comply therewith, ProLogis is entitled to take over all supply, servicesand maintenance of the Premises. Skechers will be invoiced accordingly.**10 Insurance**ProLogis undertakes to take out an insurance for the Premises (covering fire and water damage,civil liability as well as all windows in the premises); as of the notification by Skechers toProLogis that Skechers has made the required agreements for the services pursuant to Article 9,this insurance shall be taken out by ProLogis but the insurance premiums in relation thereto shallbe charged to Skechers.Skechers undertakes to insure its personal assets and company equipment which are in the Premisesagainst fire hazards and related risks, loss due to electrical faults, storm damage, water damageand Civil Liability, and to take out any other insurance required on account of the Skechersactivities.At the first request of ProLogis, Skechers will allow inspection of the policies.The insurance taken by Skechers shall include a clause in which the insurers undertake to notifyProLogis at least fifteen (15) days beforehand by registered mail of any cancellation ortermination of the insurance policy.ProLogis and Skechers, as well as their insurers, mutually waive any right of recourse they mighthave on the basis of the respective policies taken out toward one another, toward any sublesseesand toward any person admitted to the Premises.Skechers also waives any recourse which it might be entitled to exercise pursuant to Articles 1721and 1386 of the Belgian Civil Code. Skechers undertakes to impose these obligations to any lesseesand/or occupants.If Skechers increases the risk in such a way that this will lead to an increase of the insurancepremium, it alone shall pay the increased premium arising from it in relation to the insurance ofthe Premises.**11 Advertising Signs**If Skechers wishes to fix any advertising signs, it shall only do so at the places assigned forthat purpose by ProLogis on and around the Premises and it must submit a design of this to ProLogisand have its written permission (which shall not be unreasonably withheld), whereby the permissionby ProLogis does not affect the obligation on the part of CUSTOMER to acquire the necessarypermissions and permits for the proposed advertising signs from the competent authorities.Drilling in face brick and blue limestone is strictly prohibited.
 

 
**12 The State of the Premises at the Commencement of the Agreement**Before Skechers commences its occupation of the Premises, a “State-of-Delivery” report will beagreed upon by the parties describing the current status of the Premises as well as the way thePremises should be delivered at the end of the Agreement period or any other agreed terminationdate of the Agreement, including a list of improvements that do and do not need to be reinstated bySkechers, subject to the provisions in Article 14. Any improvements by Skechers are to bemaintained by Skechers and are not an integral part of the Premises. This “State-of-Delivery”report will be signed by Skechers and ProLogis on the official delivery date of the Premises,tentatively scheduled on April 1, 2009, and will be attached to this Agreement as Appendix5.**13 Maintenance of the Premises****A.**During the entire duration of the Agreement, Skechers will have to maintain the Premises welland it will carry out any necessary repairs and work for its own account as well as to ensurecompliance with any new legislation or regulation.It will use and maintain the Premises with due care.It will, *inter alia*, take care of all the maintenance work and repairs mentioned in articles 1754a.f. of the Belgian Civil Code, with the exception of the work referred to in Article 14.Apart from the obligations on the part of Skechers arising from the general regulations of theBelgian Civil Code, Skechers will, *inter alia*, be responsible for the following (without prejudiceto the non-restrictive nature of this enumeration): - to maintain, repair and renew the interior paintwork and the interior  - decoration of the Premises.  - to maintain, repair and, if necessary, to replace the sanitary fittings,  - the water faucets and any equivalent appliances and fittings.  - to properly maintain the water pipes, the water outlets and sewer pipes,  - emptying grease traps and protect them against frost and, if necessary,  - to unblock them.  - to repair any damage which is not directly the result of age or a  - defective condition and, if necessary, to replace them.  - to repair and, if necessary, to replace the wall pannelling, floors, alllocks and electrical equipment. to replace any broken windows, whatever the reason thereof (the costshereof shall, however, be covered by the insurance referred to in thefirst paragraph of Article 10). to maintain the heating and ventilation system and to repair any damagewhich is not directly the result of age or a defective condition. to clean the ventilation ducts and to have the chimneys swept. to be responsible for maintaining the paving of the grounds forming partof the Premises and keeping it at its original level. To insure and properly maintain the roof of the Premises.Skechers undertakes to submit to ProLogis the annual statement regarding the maintenance of theheating and the ESFR Sprinkler system, as well as the annual statement of the sweeping of thechimneys by an approved chimney sweeper.To keep the certificate of the sprinkler system valid, Skechers shall at least every two weeksstart up the engine of the sprinkler pumps. The results of this test must be added to the logbookbelonging to the sprinkler system.If Skechers fails to comply with the obligations which it must fulfill pursuant to the Civil Codein general or pursuant to this article in particular and if it does not remedy this failure withintwo (2) weeks of the written notice of default by ProLogis, ProLogis, provided it has sent a letterto Skechers containing a plan of the works (“bestek”) will be entitled to have the necessary workscarried out for the account of Skechers and to claim the repayment of all costs incurred as aresultof this. This does not affect any other right and recourse of ProLogis toward Skechers under thisAgreement or by law.**B.**During the entire duration of the Agreement, Skechers will have to comply with any statutory,administrative or any other applicable regulations. Skechers will be responsible for anyconsequences arising from failure to comply with these regulations.**C.**Skechers will be liable for any loss due to an act or omission of Skechers or due to any act oromission of any its representatives, employees and any persons in general for which Skechers isliable by law.**D.**On the date of commencement of this Agreement, the level of the land of the Premises, includingthe front area pertaining to the Premises is at the original level.The maintenance of the aforementioned lands, the replacement of any damaged parts of these landsand the maintenance of these lands at the original level will be carried out for the account ofSkechers.**14 Furnishing and Alteration Work**Skechers is entitled to fix partitions and lighting systems in the Premises and to carry out smallworks and improvements necessary for or useful to its activities.Upon the termination of this Agreement, ProLogis may, at its own choice, keep the partitions,lighting system, small works and improvements itself without any compensation or payment toSkechers, or obligate Skechers to remove the partitions, lighting system, small works andimprovements and to return the Premises to their original state, at the costs of Skechers.If applicable Skechers shall provide ProLogis as soon as possible with a copy of the postintervention files related to such works.Significant alterations or work, in particular where they affect the structure of the Premises, arenot permitted, unless prior written permission has been given by ProLogis. ProLogis will have togive the reasons for withholding its permission. If ProLogis gives such permission, it will alsoimmediately inform Skechers, whether or not, upon termination of the Agreement, it will keep thesignificant alterations or work subject to the permission. In the absence of such decision byProLogis, the significant alterations or work need to be removed.
 

 
**15 Defects and Repairs**ProLogis is, for its own account, only responsible for the repair of any structural defects of thePremises as meant in article 606 of the Civil code.However, if it appears that any such defects are the result of a failure by Skechers to perform itsmaintenance obligation or of any injudicious or inadmissible use by Skechers or of any other reasonwhich may be ascribed to Skechers, Skechers will be responsible for the repairs.If Skechers identifies a defect or any damage for which ProLogis is normally responsible, even ifit is caused by a third party, it must notify ProLogis in writing of this situation promptly andnot later than ten (10) days following the discovery of the defect and/or damage.If Skechers fails to notify ProLogis, it will be personally responsible for any damage or lossresulting from this failure of notification.Skechers will have to allow the performance of any maintenance and repair work, considerednecessary by ProLogis. It will not be entitled to any compensation, such as a reduction of thePrice or any other type of compensation, relating to or resulting from such work, irrespective ofthe duration, even where it would exceed 40 days.All the costs arising from the alterations or adjustments of the Premises ordered by a competentauthority on account of a fact, an act or omission on the part of Skechers will be borne solely andexclusively by Skechers.**16 The State of the Premises upon Termination of the Agreement**ProLogis and Skechers agree that, if and for whatever reason, this Agreement terminates or ends,the “State of Delivery” report, as referred to in Article 12, shall be leading and shall be thebasis for a new inspection report of the Premises. ProLogis will in the presence of Skechers drawup a new inspection report of the Premises upon the release of them by Skechers, in order todetermine whether Skechers is responsible for any damages.ProLogis will have this inspection report drawn up promptly after the termination of the currentAgreement. Such report shall indicate the damages in the Premises for which Skechers is responsibleand liable, as well as the duration on non-availability of the Premises due to the required repairworks.In the event of disagreement on the contents of such inspection report, this matter shall besubmitted as soon as possible to an independent expert specialized in real estate. This expertshall be appointed by the parties or, failing agreement, at the request of either party by thePresident of the Chamber of Commerce and Industries of Liège. The decision of the expert shall bebinding for both parties. The costs of the expert shall be equally borne by both parties.The transfer of the keys, in whatever form, upon or after the departure by Skechers shall not atany time release or discharge Skechers of its obligations, either in part or in their entirety inrelation with the obligations of the Skechers under this Agreement, and in particular with respectto possible repair works or the non-availability of the Premises.Upon its departure, Skechers shall pay any outstanding service charges.Skechers shall have to leave the Premises well-maintained and clean at the end or termination ofthis Agreement.Skechers shall be liable for any damages to the Premises, due to an act or omission on its part ordue to any act or omission on the part of its representatives, employees and of any persons ingeneral for which Skechers is liable by law or in accordance with this Agreement.Next to the repair costs, Skechers will have to pay ProLogis any compensation resulting from theunavailability of the Premises due to an act or omission for which Skechers is liable pursuant tothe preceding paragraph or because Skechers has not vacated the Premises in due time. Thiscompensation will be the equivalent of the then valid Price due by Skechers for the period ofunavailability of the Premises, as determined between parties or by the expert.**17 Expropriation**In the event that the Premises, either in part or in their entirety, are expropriated, Skecherswill have no right of recourse against ProLogis. The rights which Skechers asserts against theexpropriating authority shall at not time affect the rights which ProLogis shall have against theexpropriating authority.**18 Visits to the Premises/ For Rent or For Sale**ProLogis and its agent and representatives are authorized to visit the Premises with a personappointed by Skechers, whenever necessary, subject to prior notification (at least eight workingdays) to Skechers.During the six (6) months before the termination of the Agreement or in the event of any sale ofthe Premises, ProLogis is entitled to fix the necessary advertising signs and announcements withoutexcessively hindering the activities of Skechers.**19 Terms of the Deed of Sale**Skechers explicitly states to be informed and that it is aware of and complies with the terms ofthe Deed of sale dated June 6, 2001 between ProLogis and Services Promotion Initiatives en Provencede Liège (SPI+) scrl, and Skechers undertakes, for itself, any of its entitled parties andany of its successors and assigns, to comply conscientiously with the provisions of this Deed ofsale, if applicable, articles two (2), three (3), four (4), five (5), six (6), seven (7) and eight(8) of this Deed of sale, in so far as these are or can be applicable to Skechers, and to ensurethat these stipulations are also complied with conscientiously by any third parties which mayacquire a right of lease, use or any other right to the Premises or the site.Skechers shall indemnify and hold fully harmless ProLogis for any damage and/or costs which mayarise from a failure to comply with the aforementioned terms of the Deed of sale. ProLogis declaresthat the Agreement is in compliance with articles 2 up to 8 of the Deed of Sale, insofar asapplicable.
 

 
The articles 2 up to 8 of the above Deed of Sale set forth the following :L’affectation économique grevant le bien venduArticle deux.- Le bien faisant l’objet de la présente vente est grevé d’une affectationéconomique, celle-ci devant être considérée comme une condition essentielle de la cessionconsentie par la société « Services Promotion Initiatives en Province de Liège ».La notion d’affectation économique a été précisée dans le préambule.L’interdiction de donner partiellement ou en totalité au bien, une autre affectation, estabsolue sauf ce qui est précisé ci-après.L’obligation de construire sur le bien des bâtiments dans un délai déterminé.Article trois.- L’acquéreur s’engage à édifier sur le bien faisant l’objet de laprésente convention dans un délai de deux ans un ensemble de bâtiments conformes au pland’implantation du dix-huit janvier deux mille un et approuvé par la S.P.I. Cet engagementconstitue une condition essentielle du présent acte de vente. Sans préjudice au droit pour laS.P.I. d’exercer la faculté de rachat visée à l’article 6, la S.P.I. pourra, en casd’inexécution de cette obligation, considérer la vente comme résolue de plein droit, et sansmise en demeure préalable. En cas de résolution de la vente, la S.P.I. n’est tenue qu’auremboursement du prix tel que stipulé à l’article 1, sans aucune majoration, indemnitéquelconque ni intérêt. L’acquéreur sera tenu de remettre le bien dans l’état où il l’a reçu. LaS.P.I. ne devra aucune indemnité pour des améliorations ou plus-values apportées au bien parl’acquéreur et sera libre de conserver le cas échéant, ces améliorations.L’obligation d’exercer une activité économique déterminéeArticle quatre.- L’acquéreur s’engage à exploiter dans l’immeuble à ériger sur leterrain vendu, l’activité définie par les parties, de la manière suivante : construction dehalls, pour mise à disposition, par location ou vente, à des entreprises.Elle devra être conforme à la description plus détaillée qui en a été donnée par l’acquéreurdans sa lettre du dix-huit février deux mille dans la mesure où les termes de cette lettre ontété expressément acceptés par le Bureau Exécutif de la S.P.I. en sa séance du dix mars deuxmille.Cette activité devra être pleinement exercée dans le même délai de deux ans stipulé à l’article3. L’acquéreur ou tout autre utilisateur du bien lui succédant est tenu de demanderl’autorisation préalable à la S.P.I. pour tout changement significatif de l’activité exercéesur le bien vendu ou en cas de cessation totale ou partielle de cette activité. Cet engagementconstitue une obligation essentielle du contrat.La S.P.I. peut, le cas échéant, autoriser l’exercice d’une activité nouvelle et/ou renoncer àla sanction prévue par le contrat. Cette autorisation exceptionnelle et cette renonciation nese présument pas et doivent faire l’objet d’une décision expresse de la S.P.I.Cession de la propriété ou de la jouissance du bien à un tiersArticle cinq.- L’acquéreur pourra céder tout ou partie de bien vendu, en faire apport,le donner en location ou en transférer de toute autre manière la propriété, l’usage ou lajouissance, avec l’accord préalable et écrit de la société « Services Promotion Initiatives enProvince de Liège » et sous la condition d’imposer au nouvel utilisateur du bien, le respectintégral de la présente convention. Cet accord devra être donné dans un délai de 15 joursouvrables à dater de la demande faite par l’acquéreur. A défaut, la S.P.I.+ sera sensée avoirdonné son accord sur la demande. La S.P.I. refusera ou acceptera la cession de la propriété oude la jouissance en fonction des objectifs définis au préambule de la présente convention etdes objectifs généraux poursuivis par elle. La S.P.I. se réserve notamment le droit decontrôler si l’activité prévue par le cessionnaire ou le locataire ou tout autre utilisateurnouveau, ne risque pas de porter atteinte à la salubrité du parc industriel au sein duquel estintégré le bien vendu et si cette activité s’intègre le cas échéant, dans le programmed’implantation poursuivi sur ce site. Le contrat passé entre l’acquéreur et le nouvelutilisateur du bien doit obligatoirement stipuler l’engagement du nouvel utilisateur aubénéfice de la S.P.I. de respecter toutes les clauses de la présente convention, relatives àl’affectation économique grevant le bien vendu (article 2), à l’obligation de construire lesbâtiments dans un délai déterminé (article 3), à l’obligation d’exercer l’activité économiquedéterminée par la convention (article 4), à la cession de la propriété etde la jouissance (article 5) et à la faculté de rachat (article 6). Ces clauses devront êtreintégralement reproduites dans la convention. Une copie de celle-ci doit être soumise à laS.P.I. sans délai, dès le jour de la signature. En cas de violation du présent article,l’acquéreur initial reste solidairement tenu de toutes les obligations du contrat en cas demanquement par le cessionnaire à ces obligations.Faculté de rachatArticle six.- La société « Services Promotion Initiatives en Province de Liège » ou laRégion pourra, sur le pied de l’article 32 paragraphe 1 de la loi du 30 décembre 1970 surl’expansion économique, modifié en ce qui concerne la Région Wallonne par le décret du 15 mars1990 publié au Moniteur Belge du 7 juin 1990, racheter le terrain et/ou le bâtiment au cas oùil ne respecte pas les autres conditions d’utilisation. Le rachat s’opérera au prix du marchéde l’immobilier. En aucun cas, ce prix ne peut dépasser celui qui est fixé par les Comitésd’Acquisition d’Immeubles. Toutefois, moyennant l’accord de la S.P.I., l’acquéreur pourrarevendre le bien, et dans ce cas, l’acte de revente devra reproduire les clauses visées auxarticles 2, 3, 4, 5 et 6.La venderesse considérera comme exécutée l’activité économique telle que précisée à l’article 4des présente, par la mise en œuvre de tous les moyens normaux et nécessaires ainsi que lesefforts de promotion auxquels s’engage de bonne foi l’acquéreur pour que la vente ou lalocation, le leasing et la mise à disposition de l’immeuble décrit à l’article 3 interviennedans les meilleurs délais.CONDITIONS ParticulièresArticles sept.- Tout travail de nature à modifier le niveau du terrain faisant l’objetde la présente vente ne pourra être effectué par l’acquéreur sans l’autorisation préalable dela venderesse.Article huit.- L’acquéreur s’engage à n’installer ou à ne laisser installer sur le bienvendu que des enseignes ou panneaux publicitaires destinés à renseigner sa raison sociale, sonnom ou les produits fabriqués ou vendus par lui. L’installation de cette publicité sera soumiseà l’accord préalable de la venderesse. L’acquéreur s’engage à maintenir en état de parfaitepropreté les parties non bâties de la parcelle.
 

 
**20**Environment and healthSkechers shall at all times use its best efforts to minimize the impact of its activities on theenvironment and human health.Skechers shall, both during the Agreement and afterwards, fully indemnify ProLogis and holdProLogis harmless for all damages and costs resulting from the release by Skechers of harmfulsubstances into the air, the water, the soil and the groundwater, or from any activity which isharmful for the environment or human health, including but not limited to (i) the fees and expensesfor surveys or other studies, preventive or remedying measures and for monitoring programs, (ii)the decrease of the value of the Site, (iii) the loss of benefit of the exploitation of the Site,(iv) liabilities towards third parties and/or public authorities, (v) all penalties, interests,proceedings and fees of technical, legal and financial experts.Prior to the commencement of this Agreement, ProLogis has conducted a Phase I Environmental SiteAssessment, Industrial Park Hauts-Sarts-Milmort, ProLogis Belgium II Sprl ProLogis Belgium III, V,VI Sprl, Avenue du Parc Industriel, 4041 Herstal-Milmort (Liège), Belgium (GEDAS, January 18, 2001,project. number: 11/15/1844) and the Geotechnical Site Investigation (GEDAS, March 7, 2001, projectnumber : 11/15/1844 — revision B) on the Site, for its own account. The Assessment and theGeotechnical site Investigation (together ‘the GEDAS report’)have been appended to this Agreement as Appendix 6. ProLogis shall have established anupdate of the GEDAS report (of both the Assessment and the Geotechnical site investigation) byGEDAS which will be communicated to Skechers prior to the official delivery date of the Premises,as referred to in Article 5, which will include drills on the Site and an examination of samples ofthe soil and ground water of the Site evaluated on the basis of the Walloon standards for theparameters for which such standards currently exist and on the basis of the Flemish standards forthe other parameters (the “Update report”). This Update report will be attached to this Agreementas Appendix 7. The GEDAS report and the Update report represent a legally appropriatesurvey and is regarded a sufficient basis to describe the status of the soil and ground water ofthe Site, agreed by ProLogis and Skechers.Prior to the termination of the Agreement, Skechers will, at its sole expense, order an accreditedexpert to carry out an exploratory soil survey on the Site.If the results of this exploratory soil survey indicate that there are concentrations of substancesin the soil and/or the groundwater of the Site exceeding the standards which apply on such dateand/or which give cause to further survey measures and/or soil decontamination, Skechers will havethese further surveys and soil decontamination carried out, for its own account.Skechers will also compensate ProLogis for any damage which the latter may suffer as a result ofany soil and/or groundwater contamination exceeding the contamination ascertained in ‘the GEDASreport’ and the Update report or as a result of the survey and remediation measures carried out bySkechers for such contaminationSkechers will make a reasonable effort to ensure that the survey and remediation measures arecarried out prior to the termination of the Agreement and interfere as little as possible with theuse of the Site.**21 Various clauses** **21.1** This Agreement contains theentire agreement of the partieshereto with regard to the objectto which it refers and containseverything the parties havenegotiated and agreed upon withinthe framework of this Agreement.    No amendment or modification of this Agreement shall take effect unless it is in writingand is executed by duly authorized representatives of the parties.    The Appendices to this Agreement form an integral part thereof and any reference to thisAgreement shall include a reference to the Appendices and vice versa.    It replaces and annuls any agreement, communication, offer, proposal, or correspondence,oral or written, previously exchanged or concluded between the parties and referring tothe same object.  **21.2** Notwithstanding any provisioncontrary to the presentAgreement, neither party shall beliable for a delay or failure tofulfill its obligations underthis Agreement arising from anycause beyond its reasonablecontrol or arising from strikes,lockouts, work stoppages or othercollective labor disputes,insofar that the party invokingthe force majeure informs theother party as soon as reasonablepossible of the occurrence andthe estimated duration and thetermination thereof, as well asan accurate description of thecauses thereof. In case thesituation of force majeure has aduration of more than two(2) months, the other party isentitled to terminate thisAgreement in accordance with theterms of this Agreement.  **21.3** The parties acknowledge that theyhave required all notices andlegal proceedings provided forunder the present Agreement, orrelated hereto, to be drawn up inthe English language, to theextent permitted by rules ofpublic policy relating directlyor indirectly to theseproceedings.  **21.4** If one or more of the provisionsof this Agreement is declared tobe invalid, illegal orunenforceable in any respectunder the applicable law, thevalidity, legality andenforceability of the remainingprovisions contained herein shallnot in any way be affected. Inthe case whereby such invalid,illegal or unenforceable clauseaffects the entire nature of thisAgreement, each of the partiesshall use its best efforts toimmediately and in good faithnegotiate a legally validreplacement provision.  **21.5** No failure or delay of a party toexercise any right or remedyunder this Agreement shall beconsidered a final waiverthereof, nor shall any single orpartial exercise of any right orremedy preclude any other orfurther exercise thereof. Therights and remedies provided inthis Agreement are cumulative andnot exclusive of any rights orremedies provided by law.  **21.6** If this Agreement is to beregistered, Skechers shall do soas soon as reasonably possible. Aproof of registration is to besubmitted to ProLogis. The costsand possible penalties resultingthereof are to be borne solely bySkechers.  **21.7** The parties acknowledge that theyhave required the presentAgreement to be drawn up in theFrench and the English language,both with equal value. The Frenchversion will be used forregistration purposes. TheEnglish version will be attachedto the French version asAppendix 8.
 

 
**22 Choice of Domicile**Any notifications and correspondence which must be addressed to the other party, may be served in alegally valid manner at the following addresses :for ProLogis : ProLogis Belgium III sprl, Park Hill, Building A,3rd Floor, Jan Emiel Mommaertslaan 18*,*B-1831 Diegem;for Skechers : Skechers EDC, 159 Parc Industriel Hauts-Sarts, Zone 3, Avenue duParc Industriel, 4041 Herstal.Except if agreed otherwise, any change of address can only take place within Belgium. Any change ofaddress must be notified by registered letter to the other party, the new address being consideredthe official address for purposes of this Agreement from the first business day following thesending of such notice letter.Notwithstanding the preceding, all notifications between Skechers and ProLogis directly related tothe Agreement shall be in the form of registered letters.**23 Competent Courts**In the event of any dispute relating to the conclusion, validity, the implementation or theinterpretation of this Agreement, the courts of Liège will have sole and exclusive jurisdiction.**24 Applicable law**This Agreement shall be governed by and construed in accordance with Belgian law.**25 Bank Guarantee**By way of security for the due performance by Skechers of its obligations under the AvailabilityAgreement, Skechers hereby gives to ProLogis a bank guarantee at first demand issued by a firstclass European bank having an office in Belgium and doing business in Belgium for an amount equalto the Price as defined in the Availability Agreement for a period of three (3) months plus servicecharges and plus VAT as determined and adjusted in accordance with the terms and conditions of thisAgreement.When the Price in accordance with Article 4 is modified, the amount of the bank guarantee will haveto be adjusted in line with the annual adjustment of the Price payments every year. It will have toapply to the entire duration of the Agreement plus six months.This bank guarantee shall only be released six (6) months after the expiry or termination of theAvailability Agreement, including its extensions.The bank guarantee shall be part of this Agreement and shall be attached to it as Appendix9.In the absence of the bank guarantee as at Commencement Date at the latest, this Agreement will benull and void ipso iure without any further notice being required or any legal proceedings to bestarted. If ProLogis should decide to refer to the lack of the bank guarantee and thereby invokesthe nullity of the Agreement, all Price payments, charges and any other payments due to ProLogisunder this Agreement will nevertheless remain in force as a compensation due to the unavailabilityof the Premises, without prejudice to any other compensation ProLogis may claim.Next to the bank guarantee, ProLogis obtained from Skechers USA Inc., a company under the laws ofthe State of Delaware having its principal place of business at 228 Manhattan Beach Blvd, ManhattanBeach, CA 90266, USA, a letter, attached hereto as Appendix 10, pursuant to which thelatter declares in favor of ProLogis, including the successors in title of ProLogis, the financialsoundness and the complete observance by Skechers of its obligations under this Agreement. Thisletter is essential for ProLogis for entering into this Agreement.In the absence of the letter at signing date, this letter will be provided within two weeks aftersigning this Agreement.** *
 

 
This Agreement was made out in quadruplicate in MilmortEach party acknowledges to have received its original copy.May 20th 2008     /s/ Gerrit Jan Meerkerk For ProLogis Belgium III Sprl, /s/ David Weinberg For Skechers,  Gerrit Jan Meerkerk David Weinberg  **The following Appendices are part of this Agreement:**       **Appendices:**  **1.**  Situation Plan (02/06 6102 07-04-2008);   **2.**  Building permit Application (E16256);   **3.**  Plans and Specifications DC II / Outline specifications(May 2008);   **4.**  List of services, supplies and site maintenance (09-Oct.-2007);   **5.**  n/a   **6.**  Gedas report;   **7.**  n/a   **8.**  n/a   **9.**  n/a   **10.**  n/a
 

 
**Appendix 1****Situation Plan**